Ghana must brace for eventualities from EPAs - Haruna Iddrisu

Ghana needs to brace itself to adequately absorb any impact the economic partnership agreements (EPAs) currently being negotiated by the European Union (EU) and members of the Economic Community of West African States (ECOWAS) will bring, the Minister of Trade and Industry, Mr Haruna Iddrisu, has said.

That preparation, he said, should replace the intense debate and discussions that have greeted negotiations.

The minister made the appeal at the public dialogue organised by the ministry on the EPA in Accra.

He said the ECOWAS Heads of States had substantially reviewed some aspects of the agreement, due to be signed in October, this year.

He said unlike in 2007 when the market access was 80 per cent for a fixed liberalisation period of 15 years, the current pact was currently asking for a 75 per cent market access for a fixed liberalisation period of 20 years accompanied by some development assistance of over US$6.5 billion.

He also assured the private sector that Ghana would not rush into signing the pact with the EU, as it happened in 2007, but would rather work together with other West African states to conclude a regional partnership agreement at the ECOWAS level.

Mr Iddrisu also said the ministry had sent original copies of what was being negotiated and discussed to all the private sector players and was now inviting their final comments and inputs to inform the Heads of States when they meet in June or July to conclude the negotiations.

He also stated that much as the country cherished its trade relationship with the EU, government would make sure the regional pact would not lead to substantial losses of jobs, revenue and investments and, therefore, called on the private sector to work together with the government to determine what to protect within the 25 per cent market access opportunity that would be declared for essential products from Ghana.

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Agricultural subsidies

A Director at the ministry, Mr Nyame Baafi, explained that the products for liberalisation were basically inputs, intermediary goods and capital equipment with an exemption of 25 per cent sensitive and special products from the West Africa region.

He said the EU and West Africa would exchange regular reports on agricultural measures, adding that the EU had been barred from using export subsidies for farm goods exported to West African markets.

He concluded that the EPAs had enough provisions to protect the West Africa countries and also promote its development.